As more states come online and transition from medical to adult use, we remain excited about new opportunities in expanding markets like Maryland and New Jersey, and we are also closely following emerging markets like Alabama and Mississippi and will continue to look for strong sponsors, great projects and attractive markets.' With the longest history in the space of deploying capital successfully and seeing it returned, we spend a lot of time underwriting the company we're working with, the real estate and the projections prior to making any loans. 'As the largest privately held commercial real estate lender in cannabis, we are seeing an increase in deals coming through our pipeline, and are strategically closing on them – even during this time of market volatility. 'We really enjoyed working with the Terrascend team on our first deal together – they were great throughout the entire process,' said Pelorus Equity Group Managing Partner Travis Goad. As the demand for capital continues to increase in tandem with the growth of the cannabis industry, we plan to deliver even more innovative, flexible lending solutions and stabilized loans like this one to meet the needs of a wide range of clients, including MSOs, SSOs and ancillary businesses.' 'Our investment and lending philosophy is focused on being honest, upfront and doing what we say we're going to do for both our borrowers and our investors. 'With this agreement, we are excited to help fuel TerrAscend's growth and long-term business goals,' said Dan Leimel, CEO of Pelorus Equity Group and manager of the Pelorus Fund. We look forward to a long successful partnership as we continue to grow.' 'The Pelorus team has been a pleasure to work with, delivering exactly what they promised. 'We are pleased to announce this non-dilutive financing at attractive terms given the current market environment,' said Jason Wild, Executive Chairman of TerrAscend. The Loan proceeds from this transaction will be used to fund the Company's growth initiatives. There are no warrants being issued as part of the transaction. The Loan currently bears interest of 12.77% per annum and is based on a variable rate tied to the one month secured overnight financing rate (SOFR), with interest-only payments for the first 36 months.

('TerrAscend' or the 'Company') (CSE: TER) (OTCQX: TRSSF), a North American cannabis operator, today announced that its New Jersey and Maryland subsidiaries, TerrAscend NJ, LLC, HMS Hagerstown, LLC, HMS Processing, LLC, and HMS Health, LLC, have closed on a non-brokered senior secured term loan (the 'Loan') for gross proceeds of approximately US$45.5 million from funds managed by Pelorus Equity Group ('Pelorus'), a leading provider of commercial real estate loans for the cannabis sector. Non-dilutive financing to strengthen balance sheet and fund growth initiatives

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